Michael Dell, University Of Texas, Joe Shmoe discussed on We Study Billionaires - The Investors Podcast

Automatic TRANSCRIPT

We study the financial markets and read the books that influenced self made billionaires the most we keep you informed and prepared for the unexpected. All right. Welcome to the investors podcasts as usual McCarthy. My co dig broder sin. My name is Preston pysche. Like we said in the introduction. We're going to be covering Michael Dell. And so we're just going to jump straight into the questions. Mr Dell was asked what was the story behind starting up del? This was his response when I was freshman with the university of Texas. I was going to school at every intention of going to school, and I was kind of playing around with this as a hobby while I was going to school. It was sort of a really fun hobby for me because you know, I was really interested in computers and kind of selling upgrade kits and, you know, Hansen computers, and, you know, my parents kind of go into this, and they were really upset because they thought that I should really only focus on going to college. My father's a doctor my brothers. Dr. What's doctors in the family? So I was. Going to be a doctor. And so they were very very upset with me, Michael, go, get your priorities straight. You know, so around thanksgiving of nineteen Eighty-three. My parents kind of made me commit that. I wasn't going to do this computer business anymore is only going to focus on my studies. And so for that lasted about ten days, and it was during that time that I decided that I was going to start a company actually, you know, my parents kind of telling me to stop doing. It is probably would cause the company to get created if they hadn't done that it might have just been a hobby, but what I kind of reflected on those ten days. I really love this, and it was enormously. Exciting tremendously fun. And so like any other eighteen year old who wants to do what their parents don't want him to do. You just don't tell them. That's what I did. I kind of went about path to start the company without really telling my parents. I kind of moved into a larger apartment that really high ceilings. So I could come to stack things up, and you know, manage to conceal it from for quite some time. I basically kind of came to arrangement with my parents. I said look I really want to go do this. And I know you don't do it. But I've checked with the university of Texas and the way it works at UT is that you can take a semester off and you can come back. And so I said we'll want you will agree to this all take the semester off the fall of eighty four no semester. And I'll go and do this. And if it doesn't work out go back to school, and if it does just keep doing, and so they they agreed if they hadn't agreed probably would have done it anyway. So may have eighty four I Inc the company and off ago. I just love the story. I don't really know what to say because the story till so much. I think my comment on this. This would be if you're a parent, and you have a child that is going against the grain, and you're trying so hard to push them in a certain direction. You might wanna just replay that story because sometimes the best way to exercise control is to provide free will right in this scenario the harder. The parents pushed the harder he went the other way. That's a cool story. I think for every time you would play a story like that the hit rate or the success rate might be one out of ten, and so I think that's hard for people to keep in their mind as well as like Stig, and I are providing an example of a success a major success like you couldn't get a bigger success. And that was a story, but we could probably go and record Joe shmoe who's now not owning his own business in working for some other firm who has that exact same story, and he wasn't successful. I think it's a great story. It's a cautionary story at the same time. But I think it's a common story that you see from the people that we study they almost all start out like that. It's really neat. Yeah. I also feel that s the Panera might be east for me to say..

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